U.S. Biochip Products and Services Market grows with rapid growth in personalized medicine, life science research and drug discovery

Transparency Market Research has recently announced the publication of a new market research report. The report, titled “Biochip Products and Services Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”, is a comprehensive study that talks about the market overview, product segmentation, market dynamics, and vendor analysis.According to the research study, in 2011, the U.S. biochip products and services market was worth US$2.4 bn and is anticipated to be US$4.7 bn by the end of 2018. Furthermore, this market is projected to register a progressive 10.10% CAGR from 2012 and 2018. In the overall biochip products and services market, in 2011, the U.S. biochip products and services market accounted for the largest share of about 70%.

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Rapid growth in personalized medicine, life science research, and drug discovery, and increasing application of proteomics technologies and genomics in cancer research are some of the major factors that are expected to boost the demand for biochip products and services in the U.S. market. On the other hand, availability of alternate technology, including polymerase chain reaction and mass spectrometry, and low commercial acceptance of biochips because of their high cost are the restraining factors that are expected to curb the growth of the U.S. biochip products and services market in the next few years.

On the basis of type, the biochip products and services market in the U.S. is segmented into reagents and other consumables, microarrays, and others. Among all these types, in 2011, the microarrays segment accounted for the largest share in the U.S. biochip products and services market owing to the technical advancements in this field and rise in the commercial application of biochips. In the microarrays segment, the largest share referring to biochip products and services is held by DNA chips, thanks to the increased adoption of gene expression in epidemiological research and drug delivery. Furthermore, in the microarrays segment, protein chips and laboratory are anticipated to witness speedy growth in the U.S. market for biochip products and services. The fast growth of this segment is due to the broadening capabilities of protein chips and laboratory in diagnostic testing as well as drug delivery.

On the flip side, the reagents and other consumables segment is also expected to grow tremendously in the U.S. biochip products and services market. This segment is projected to register a 10.70% CAGR from 2012 to 2018, owing to the increasing demand for purification agents, sample preparations, and advanced labeling agents. The U.S. biochip products and services market has been segmented on the basis of application into defense, in vitro diagnostic testing, forensic medicine, drug delivery, disease, and life science research.

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The market research report on the U.S. biochip products and services market has further provided an in-depth analysis of the prominent players operating in the biochip products and services market in the U.S. The analysis includes company overview, financial overview, business strategies, product portfolio, and recent developments. Some of the key players mentioned in the report are Beckman Coulter, Inc., Roche, Agilent Technologies, Abbott Laboratories, GE Healthcare, Illumina Incorporated, Life Technologies Corporation, and Affymetrix Inc.

Key segments of the XYZ market

The U.S. biochip products and services market has been segmented into:

Biochip products and services market in the U.S., by Type

Microarrays
Reagents and Other Consumables
Others
Biochip products and services market in the U.S., by Application

Drug Delivery
In-Vitro Diagnostic (Ivd) Testing
Science Research
Disease Management
Defense
Forensic Medicine

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.